Farther Finance Advisors LLC Cuts Stake in RBC Bearings Incorporated (NYSE:RBC)

Farther Finance Advisors LLC decreased its holdings in RBC Bearings Incorporated (NYSE:RBC) by 58.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 400 shares of the industrial products company’s stock after selling 570 shares during the period. Farther Finance Advisors LLC’s holdings in RBC Bearings were worth $120,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Legacy Advisors LLC boosted its stake in shares of RBC Bearings by 1.4% in the 2nd quarter. Legacy Advisors LLC now owns 4,534 shares of the industrial products company’s stock valued at $1,223,000 after purchasing an additional 61 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of RBC Bearings by 416.7% in the 3rd quarter. UMB Bank n.a. now owns 93 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of RBC Bearings by 23.2% in the 3rd quarter. GAMMA Investing LLC now owns 440 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 83 shares in the last quarter. RiverPark Advisors LLC boosted its stake in shares of RBC Bearings by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 993 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 87 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of RBC Bearings by 80.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 290 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 129 shares in the last quarter.

RBC Bearings Trading Up 0.0 %

Shares of RBC opened at $319.97 on Tuesday. The firm has a fifty day simple moving average of $291.34 and a two-hundred day simple moving average of $284.26. RBC Bearings Incorporated has a twelve month low of $226.71 and a twelve month high of $328.39. The company has a quick ratio of 1.28, a current ratio of 3.48 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $10.05 billion, a P/E ratio of 46.71, a PEG ratio of 3.66 and a beta of 1.51.

RBC Bearings (NYSE:RBC) last posted its earnings results on Friday, November 1st. The industrial products company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.01). RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The company had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $403.89 million. During the same period in the prior year, the business posted $2.07 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, research analysts anticipate that RBC Bearings Incorporated will post 8.94 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price target on shares of RBC Bearings from $328.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $287.67.

Insider Transactions at RBC Bearings

In other news, CEO Michael J. Hartnett sold 503 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the sale, the chief executive officer now directly owns 322,588 shares of the company’s stock, valued at approximately $93,227,932. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Michael J. Hartnett sold 503 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $289.00, for a total value of $145,367.00. Following the completion of the transaction, the chief executive officer now directly owns 322,588 shares in the company, valued at $93,227,932. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the transaction, the vice president now owns 12,539 shares of the company’s stock, valued at approximately $3,669,789.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,327 shares of company stock valued at $11,068,921. Company insiders own 2.60% of the company’s stock.

About RBC Bearings

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.